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Five UIG
Five UIG, '''known colloquially as '''Five or 'TV-5 '''and formally trading as '''Five Network Georgeland Pty Ltd '''is a Georgeland national free-to-air, commercial television network. Five was the third TV channel established in Georgeland, behind the GBC and '''TV-2 '(now Network Twelve). Five began broadcasting on 15 March 1956 with TCV-5 in Doubledance and TNC-5 in Santa Christina, with operations in other states commencing throughout that year. Unlike many TV networks, Five has always operated as a single body, with almost identical programming nation-wide (as opposed to local affiliates). The station's callsign and frequency became standardised across the country on 1 January 1975. Five is consistently the country's highest-rating commercial network. History With the introduction of television in 1951, the Georgeland Broadcasting Corporation became the only licensed operator, although commercial TV was always intended and permitted by the Broadcasting Act. The initial investment in what would become the Five Network was from radio and newspaper baron Gordon Arkwright and his long-term business partner, Henry Sheffield. They formed Sheffield Arkwright in 1941, and the transition to commercial TV broadcasting was a natural one for the highly-successful media barons. The company grew quickly even before it began broadcasting. Initially owned 50% each by the two men, Sheffield divested himself of about 10% of his shares in 1960. The station broadcast its first programming, a national news bulletin read by Gareth Angel on 15 March 1956. Initially only broadcasting in Santa Christina and Doubledance, by the end of that year, it had established stations in Emilypolis and New Kikipolis. Full national coverage was achieved in 1960. The station was the first to broadcast in colour, and due to Arkwright's influence was one of the first TV companies to broadcast international sporting events. The 1964 Olympic Games in Tokyo, broadcast (on a slight delay) in October 1964, was Georgeland's first colour TV broadcast. Sheffield's death in a plane crash on 16 May 1972 left his shares solely in Arkwright's hands. Arkwright died in 1978, with his interest passing to his son Colin. Between 1972 and 1980, the Arkwrights were the owner of approximately 85% of the company. The company's share price began to fall as ratings started stalling, partly driven by new competition from other networks and partly by mismanagement. The Board sacked three consecutive CEOs throughout the 1970s, and in 1981 CEO Benjamin Poole was jailed for embezzlement. In 1985, Colin Arkwright sold 25% of his stake to John Hackett , who was credited with turning the ailing company around. With his associate Graeme Powers as Managing Director, Five had returned to its pre-1980 market share by 1990, at which point Hackett sold his shares, using the money to begin his own TV network, National TV. The primary buyer of Hackett's shares was Richmond Media, which already held a considerable stake. In 1997, a 45% interest in the company, primarily that of Sheffield Arkwright, was purchased by US company Viacom, the owners of US network CBS. Under foreign investment rules at the time, ViacomUIG was established as a subsidiary, and the network's branding was changed to 'Five UIG. '''This change allowed Five to begin broadcasting CBS programming from the United States, much of which was already shown on other networks. This arrangement has continued to the present day, and was credited with significantly increasing Five's market share. Five began limited digital broadcasting in 2005, with the switch to a fully digital network completed by 2011. In July 2014, Five launched TV-55, a second digital channel running repeats, additional programming and a dedicated children's programming period. Ownership While Five is a publicly-listed company, 85% of it is owned by two corporations. US company ViacomCBS is a 45% stakeholder, while local company Richmond Media, which took over Sheffield Arkwright in 1992, owns another 45%. A bid for CBS to acquire Richmond Media's stake was blocked by the federal government in 2009 as it would have resulted in a major network being almost entirely foreign-owned. 15% of the company is owned by public investors. The Board is primarily made up of representatives of Richmond and ViacomCBS. The Board appoints a CEO and a Managing Director, and its own Chairman. The current Chairman is Tom Rawlings (appointed 2018) and the current CEO is Paul Howard (appointed 2016). In January 2020, Lisa Rhys-Jones was appointed the company's first female Managing Director. Programming Due to the Viacom stake, many of Five's flagship shows are American CBS programming including ''NCIS, Survivor, Love Island, The Late Show with Stephen Colbert, the Late Late Show with James Corden, ''and daytime soap operas The Young and the Restless and The Bold and the Beautiful''. In years when CBS is licensed to air the Super Bowl, it also airs live on Five. Former US programs currently shown on repeat include How I Met Your Mother, The Big Bang Theory, Two and a Half Men ''and Medium''. In recent years, Five has scaled back its local content, but still produces and airs a variety of Georgeland-produced programming. Its highest-rated program overall is the football program The Ball, which has aired consistently on Sunday nights since 1981. Flagship current affairs program Firing Line has also been among the highest-rated programs on Georgeland television. Other local programming includes'' Drag Race Georgeland'', ''The Cut, Love and Marriage, Tattoo Nation, Kitchen Disasters, Top Chef Georgeland, Secret Shoppers, The Gate, Lost and Lonely, Master of the World, Lonesome, Gary, ''and ''Goodnight Everyone. ''